“The IRS may tell you that they need your help to find out the correct tax liability. You may hear that they want you to help them to put the noose around your neck by keeping your finger on the knot. If that’s so, you don’t have to wait until the noose is fixed around your neck to get a lawyer, do you?” said Ferey Kian, CEO of Kian Finance Authority.
To educate taxpayers on how a tax representative can help with IRS communications, Kian list the following five tips:
No. 1: They can educate taxpayers about their rights. “Most taxpayers don’t know that, for instance, they have the right to appeal any and all decisions made by the IRS in their letters,” noted Kian.
No. 2: If you feel you are badgered, they can stop harassment. “As soon as an IRS agent knows you have a tax representative, they will stop bothering you,” stressed Kian. “The tax representative can shield you as your legal representative.”
No. 3: Tax representatives can help find the easiest, most cost-effective solutions. It is imperative to not ignore IRS notices as this only escalates the issue, allowing the IRS to assume their position is correct and assess the taxes on their own. “For example, if your income is reported by a third party, but your expenses are not known, the IRS can assume your gross income was your net income and issue a tax liability,” added Kian. “A tax representative can help you with filing your proper deductions.”
No. 4: Tax representatives can negotiate with the IRS on one’s behalf. This may result in waiving penalties. “They can also set up an arrangement for you to pay the IRS in monthly installments,” stated Kian, “...to avoid taxpayer’s accounts garnished or worse, frozen due to a levy placed by the IRS.”
No. 5: Tax representatives can answer inquiries from the IRS and also ask for the appropriate information. “They have the ability to clear any suspicions of identity theft and/or fraudulent activity,” concluded Kian. “They know how to ask for tax transcript or of recent transactions, whereas most taxpayers don’t know how crucial this question is. As a final word of advice, a lot of taxpayers inadvertently, spill their beans all over the place and then they would slip and fall.”
About Ferey Kian, Kian Finance Authority
Ferey Kian is and Enrolled Agent, an expert in tax matters. Kian Finance Authority services include individual as well as corporate taxes, business strategy, payroll and film budget preparation. They are Approved Education Provider for the IRS and offer courses for tax professionals to stay compliant with their designations. For more information, please call (954) 399-8980, visit http://www.fkianfa.com, or vist Kian Finance Authority’s Facebook.